Multiple Choice
Sandra purchases 5 pounds of coffee and 10 gallons of milk per month when the price of coffee is $10 per pound.She purchases 6 pounds of coffee and 12 gallons of milk per month when the price of coffee is $8 per pound.Sandra's cross-price elasticity of demand for coffee and milk is
A) 0.82, and they are substitutes.
B) -0.82, and they are complements.
C) 1.22, and they are substitutes.
D) -1.22, and they are complements.
Correct Answer:
Verified
Correct Answer:
Verified
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